Global gas glut threatens alternative power sources, warns IEA. A gauge indicates satisfactory pressure in a natural gas pipeline.
Picture by AP Source: AP A GLUT in global supplies of natural gas over the next decade threatens to blunt investment in alternative energy sources, warns the IEA. Speaking at the launch of the International Energy Agency’s annual World Energy Outlook report, Fatih Birol, its chief economist, said that the world was entering a "golden age of gas" because of surging production of shale gas using new technology developed in the United States. He said that the IEA, the Paris-based agency that advises the Organisation for Economic Co-operation and Development on oil and energy issues, was now predicting a global surplus of the fuel of about 150 billion cubic metres annually in the years ahead.